TEConomy Partners can assess your advanced industry clusters and evaluate your R&D core competencies, identify strong innovation-led development platforms, complete the design of your economic and product development ecosystem, assure you have the places and spaces needed to appeal to companies and talent, and launch and manage highly effective growth and development programs. TEConomy Partners services are designed to help you manage and navigate economic and innovation based development.

Economic Development and Targeted Industry Strategies

To realize growth, an economic strategy must first be grounded in growth opportunities that connect industry strengths with specific know-how found across industry, universities and the workforce. Strategy must also bring a full assessment of the resources and capabilities found in the development ecosystem. And finally, a successful strategy must include a tailored set of actions designed from best practices.

Examples of Project Work Completed by Principals at TEConomy:

Ohio Department of Development (ODOD)

Our economic development strategy for ODOD assessed Ohio’s competitive position and development gaps. The completed strategy offered a comprehensive action plan that was incorporated into the Ohio Third Frontier, a 15-year, $2.2 billion technology-based economic development initiative. Over the next decade, we have been engaged multiple times to assist with technology core competency assessments, targeted industry cluster analysis, and detailed market assessments. During this engagement, more than 63,000 jobs and $10.3 billion in follow-on funding occurred as a result of investments made through the program.

Iowa

We completed comprehensive economic development strategies for three targeted industry clusters: biosciences, information technology, and advanced manufacturing. Each cluster development roadmap began with an analysis of the comparative performance and advantages of Iowa at the cluster and sub-cluster level. Core competencies relevant to each sector were evaluated at Iowa universities, research institutes and industry. The competitive advantage and core competency assessments resulted in identification of specific platforms or niches of opportunity. Our strategies and action plans specifically addressed tools and actions required to further strengthen Iowa’s competitive position. Iowa’s implementation of our recommendations has been heralded as a key factor in the state’s improving economic performance.

Science and Technology Roadmaps

Opportunities abound. But which ones are right for you? We can map out the niches connected to growth that offer the best potential for your organization.

Examples of Project Work Completed by Principals at TEConomy:

State of Arkansas – Advancing Data Analytics and Computing

TEConomy was retained by the Arkansas Research Alliance and Arkansas Economic Development Commission to assist the Governor’s Blue Ribbon Commission in formulating a strategic plan for advancing data analytics and computing in Arkansas. The Blue Ribbon Commission involved senior executives from Arkansas’ major corporations, emerging new technology ventures, economic development agencies and public university systems, including Walmart, Acxiom, AT&T, Stephens, Inuvo, First Orion, Tyson Foods, and the University of Arkansas System, among others. TEConomy facilitated discussions and commission member guidance, conducted a detailed assessment of Arkansas’ competitive position in data analytics and computing, benchmarked best practices and helped to formulate key actions and an operating approach for a new public-private partnership effort.

The Blue Ribbon Commission’s Action Plan was presented to Governor Asa Hutchinson in late December of 2017. It recommended a five-year, $25 million public-private partnership effort to recruit top talent, raise industry capabilities and generate more homegrown talent in data analytics and computing in Arkansas to raise the state as a leader in the transformation of existing industries through the application of data analytics and computing.

Georgia Research Alliance – Bioscience/IT

Our bioscience and information technology roadmaps for the Georgia Research Alliance have continued to assist in identifying opportunity areas and advancing stronger connections between university assets and targeted industry development.

North Carolina State University – Plant Sciences Initiative

In 2016, North Carolina State University (NC State) announced the creation of a $180 million Plant Sciences Initiative and associated Plant Sciences Building, based on a feasibility study TEConomy conducted to evaluate the core competencies of the College of Agriculture and Life Sciences (CALS) and identify development platforms aligned with regional industry connectivity and economic growth potential.

To undertake the important work of developing an implementation plan for the NC PSI, which is envisioned to be a world-class transdisciplinary research initiative, the leadership of NC State engaged TEConomy to help convene and facilitate a series of task forces to focus on key elements of the initiative’s operating plan. Task force members were drawn from both the private and public sectors and represented a diverse group of stakeholders both internal and external to the University.

Over the course of a year, the various task forces and sub task forces met to formulate a series of recommendations specific to their charge with an end goal of developing an NC PSI organizational model that will be responsive to the ultimate goals of the initiative. The thoughtful guidance and insights found within the series of recommendations that TEConomy worked to assemble and articulate will help to ensure that the NC PSI will be truly visionary and successful.

Pittsburgh Regional Foundations – Clean Tech

We conducted a detailed regional evaluation of R&D core competencies and industry assets relating to clean tech and advanced energy technologies covering Western Pennsylvania, Eastern Ohio and Northern West Virginia.

Colorado – Life Sciences

Our life sciences core competency assessment of Colorado’s research universities, national labs and industry R&D centers resulted in the development of an action plan to grow Colorado’s bioscience cluster.

Mississippi Energy Institute – Market Opportunities

We developed an in-depth analysis of energy supply and demand in Mississippi, identified energy technology R&D assets in the state, and mapped out potential commercialization platforms in specific energy innovation areas.

Indiana Biocrossroads – Life Science

We performed multiple projects for Biocrossroads and other key organizations in Indiana to evaluate core competencies and create strategic action plans for life science cluster development, including opportunities for stronger industry-university partnerships.

Arizona – Life Science

Arizona engaged us in long-standing support of the state’s 10+ year ongoing life science cluster development roadmap, together with individualized regional strategies.

The Ohio State University – Agriculture/Bioscience

Through multiple projects, we helped identify R&D strengths and key assets in agriculture and related science and engineering disciplines that could enhance the University’s agbioscience research and associated economic development.

Arkansas Research Alliance – Research/Technology

We assessed core research competencies in universities across the state and identified likely technology platforms that align with local industries and growing markets.

Workforce Development and Talent Strategies

In a knowledge-based economy, attracting and retaining educated, skilled talent at all levels is critical to producing top quality, innovative goods and services quickly and efficiently

Examples of Project Work Completed by Principals at TEConomy:

Pharmaceutical Research and Manufacturers of America (PhRMA)

Enhancing Today’s STEM Workforce to Ensure Tomorrow’s New Medicines represents the second study for PhRMA related to the biopharmaceutical industry’s needs for, and cultivation of STEM-related talent. The report details how innovative biopharmaceutical companies and their foundations are partnering with the nation’s colleges and universities to foster the next generation of STEM talent. These partnerships are happening at all levels of the postsecondary pipeline from various certification and associate’s programs though master’s and doctoral programs and worker training programs.

Indiana’s Health and Life Sciences Talent and Workforce

TEConomy, working with Indiana BioCrossroads, developed a comprehensive study detailing the workforce and talent dynamics of the state’s health and life sciences industry. The report includes a robust assessment of these dynamics as well as recommended strategies and actions for ensuring the industry, which represents one in every ten state jobs, will remain a globally competitive, economic driver for Indiana.

Connecticut Office for Workforce Competitiveness (OWC)

We provided more than a decade of strategic planning, technical assistance and implementation support services for the OWC. Our information technology workforce strategy resulted in legislation and funding of many pilot projects. One of these, designed and managed by Principals at TEConomy Partners, was scaled up into Connecticut Career Choices, a statewide STEM initiative. CCC engaged high school students in experiential learning opportunities in e-commerce, digital media, biotech R&D and health. The program reached more than 50 high schools, involving nearly 6,000 students and 125 teachers.

Indiana Retention of College Graduates

This comprehensive study focused on how Indiana could better compete for college educated talent, assessing the alignment between recent college graduates and high quality job opportunities in the state. The study brought together public data on occupational employment by industry, degree generation, and student migration patterns, along with specialized analyses of job vacancies and survey research of recent college graduates from Indiana working both in-state and out-of-state. Various strategies were identified to break the cycle of Indiana losing graduates. The results of the study helped inform the Lilly Endowment’s $60+ million initiative to Indiana colleges and universities to help improve employment opportunities for college graduates.

Maricopa Community College System

We conducted an in-depth assessment of the workforce education and training needs of electronics, aerospace, and defense manufacturers in the Greater Phoenix area, along with their supply chain businesses. A detailed action plan was developed with the input of industry sector focus groups to allow for a more targeted approach to addressing workforce needs. A similar initiative for bioscience workforce development was also conducted for the Maricopa Community College System, in partnership with Pima County.

Innovation Ecosystem, Incubators, Research Parks, and Place Making

Innovation and skills development happens in places where firms tend to cluster so they can profit from local knowledge flows, skilled workers, and regional supplier networks. Innovation ecosystems and high quality live-work-play environments are important for generating, retaining and attracting advanced industries and the high-skilled workforces they need.

Examples of Project Work Completed by Principals at TEConomy:

Association of University Research Parks (AURP)

In collaboration with AURP, we chronicled research park developments and best practices nationwide through in-depth surveys and periodic reports. These benchmarking reports have highlighted the growth of research parks even through the recession and documented the key best practices in how research parks contribute to regional innovation ecosystems.

Hillsborough County, Florida

We started with a 2009 assessment of the potential for advancing a new bioscience complex with Moffitt Cancer Center, including economic impact and likely development paths. We updated this study with an examination of how Hillsborough County’s bioscience development has fared through the economic recovery and what is needed to create a successful innovation district to spur biosciences in the county.

Indianapolis

We performed an integrated assessment of talent and innovation dynamics in the Indy Metro area. Our goal was to assess the potential for a new downtown innovation district –-16 Tech – and to identify the programs needed to realize that potential.

Iowa

We assessed the state’s overall entrepreneurial development system. Our purpose was to identify and design specific program efforts to address gaps in the entrepreneurial delivery system. More recently, we assessed the potential for advancing Iowa’s biosciences entrepreneurial ecosystem.

Pittsburgh

We have performed numerous studies for Pittsburgh over the past two decades. We developed the design for the Pittsburgh Life Sciences Greenhouse and its highly effective entrepreneurs-in-residence approaches. We conducted a detailed analysis of the challenges of aligning technology industry drivers and opportunities in technology space development. This study included a specific analysis of the relationships among the various partners and made recommendations on how these organizations could work together better through the newly-formed Greater Oakland Keystone Innovation Zone (KIZ). This effort led to a larger project to develop a strategy for growing the region’s technology economy.

West Virginia Regional Technology Park

We performed a detailed feasibility assessment and program development plan for transforming the former site of Dow Chemical’s Technical Services Center into a research park for the state’s chemical and energy industries.

Arkansas

We assessed the progress of current entrepreneurial development efforts, including how technology-based new ventures were served by the state’s technology validation, entrepreneurial mentoring, angel investment tax credits and other financing programs.

Program Management and Implementation

Successful implementation is critical to the success of any strategy. In addition to providing technical assistance services as part of implementation managed by clients, we can serve as outsourced managers for implementing the full strategy and action plan as a turnkey project.

Examples of Project Work Completed by Principals at TEConomy:

Connecticut Office for Workforce Competitiveness (OWC)

We provided more than a decade of strategic planning, technical assistance and implementation support services for the OWC. Our information technology workforce strategy resulted in legislation and funding of many pilot projects. One of these, designed and managed by principals at TEConomy Partners, was scaled up into Connecticut Career Choices, a statewide STEM initiative. CCC engaged high school students in experiential learning opportunities in e-commerce, digital media, biotech R&D and health. The program reached more than 50 high schools, involving nearly 6,000 students and 125 teachers. We also supported Connecticut Innovation’s Small Business Innovation services with design technical assistance and helped link emerging and small technology firms with large technology businesses, especially in defense.

Ohio

After completing the strategic assessment of Ohio’s economy that informed the creation of the Ohio Third Frontier, we provided technical assistance and performed specific new assignments to address areas of focus for targeted investment. One of our staff joined the Ohio Department of Development to help lead implementation.

TEConomy Partners’ public policy services help you navigate a range of issues, needs and opportunities. We help by providing objective and rigorous analysis and reporting that communicates your value, clearly explains your importance in today’s economic and societal context, combats misinformation and misperceptions, and guides the development of public policies favorable to advancing your sector and associated economic and societal benefits.

National Industry Reports

Examples of Project Work Completed by Principals at TEConomy:

Biotechnology Innovation Organization (BIO)

TEConomy’s Principals have maintained a decade-and-a-half partnership with BIO to develop and publish biennial reports that present the “State of the Bioscience Industry” in the U.S. and, perhaps most useful to its target audiences, on a state-by-state basis. Since 2004, these reports have been widely used to track industry economic trends and dynamics for the U.S., states, and even metropolitan areas; to monitor progress in state economic development initiatives targeting the biosciences; to profile the broader innovation ecosystem in which bioscience and biomedical companies and researchers operate across a range of performance measures; and to address special themes and topics such as the profitability of the industry, life sciences education, and the value of bioscience innovation to patients.

Science and Technology Futures

Examples of Project Work Completed by Principals at TEConomy:

Pharmaceutical Research and Manufacturers of America (PhRMA)

For PhRMA, we conducted in-depth research to identify likely trajectories for the U.S. pharmaceutical industry under various potential policy and industry scenarios.

The Ohio State University (OSU)

We performed a detailed overview of global grand challenges and their potential linkage to the OSU Discovery Themes Initiative platforms. This study included recommendations for multi-disciplinary R&D platforms that would best apply OSU competencies to address major global challenges in human health, food security and clean energy.

Flad Architects

For the nation’s leading science and technology facilities architecture and planning firm, we undertook research to identify those areas of science and technology likely to generate demand for new R&D and academic facilities.

We examined growth trends and likely trajectories for funding science and technology facilities at universities, research institutes, national laboratories and within R&D-performing industry clusters.

Biotechnology Innovation Organization (BIO)

In BIO’s book Healing, Fueling, Feeding, we provided research and authorship of two out of three chapters, highlighting the scientific and functional benefits of applied agricultural and industrial biotechnology.

North Central Land Grant Universities

We developed “Power and Promise,” a highly cited study of the importance of land-grant university research and extension activity in advancing an agbioscience economy together with economic and social sustainability in the North Central region of the U.S.

Southern Region Land Grant Universities

We produced “Impact and Innovation,” a detailed report on the impacts and opportunities associated with the research and extension activities of land-grant universities in the Southern region of the U.S.

Impact Assessment and Modeling

Examples of Project Work Completed by Principals at TEConomy:

New Mexico State University

TEConomy has completed a range of projects for land-grant universities and their colleges of agriculture across the U.S. A recent example is a detailed economic and functional impact assessment for the College of Agriculture, Consumer, and Environmental Sciences (ACES) at New Mexico State University. The report provides an in-depth review of impacts generated through the College’s three-part mission: higher education; research, and Cooperative Extension.

University of Missouri Extension

In 2017, the University of Missouri Extension (MU Extension) engaged TEConomy to provide an assessment of the overall economic impact of MU Extension on the State of Missouri, and to illustrate the specific ways in which MU Extension brings benefits to the state and its communities. The economic impact of MU Extension’s impact was measured in terms of monetary and employment benefits generated, both directly and indirectly, by its operations. In addition, the impact assessment highlighted the additional economic benefits that occur through various Extension-related mechanisms, including: implementation of technical and practice innovations, continuing education, youth and family development, and community development. Overall, the study found that the investment in MU Extension clearly provides a very strong return on investment for the state. For an annual total investment of $86.2 million (2016), MU Extension initiatives are generating dividends totaling nearly $950 million in an average year, more than a ten-fold return.

Mayo Clinic

In 2017, TEConomy quantified and detailed the economic and functional impacts of the Mayo Clinic and the Mayo Clinic Health System in Minnesota, Wisconsin, Arizona and Florida, updating previous analysis performed by TEConomy principals.

Human Genome Project

We developed a widely cited study that examined the initiative’s direct impacts, its broader impacts on bioscience industries, and its societal benefits.

Academy of Radiology Research

We undertook research to identify the comparative level of innovation for all National Institutes of Health (NIH) Research Institutes and a comparison of NIH patent generation to that of other federally funded agencies.

Advanced Medical Technology Association (AdvaMed)

For AdvaMed, we performed an in-depth assessment of the U.S. medical device/medical technologies industry and the economic impacts associated with this industry.

Oklahoma Public Higher Education

The Oklahoma State System of Higher Education comprises 25 institutions and educates 190,000 students each year. On behalf of the Oklahoma State Regents for Higher Education and the State Chamber of Oklahoma, TEConomy (then, Battelle’s Technology Partnership Practice) performed a quantitative and qualitative analysis of the System’s economic and social impacts. As part of this study, one-page economic impact profiles were created for each of the System’s 25 institutions. The study found that the estimated economic return on investment for Oklahoma public higher education is $4.72 for every $1 of state investment. The expenditures of the Oklahoma public higher education system generate $9.2 billion in economic impact in the state annually and supports more than 85,000 Oklahoma jobs. In addition, on average, bachelor’s degree holders earn nearly twice as much and contribute twice the tax revenue as individuals whose education concluded at the high school graduate level. The report concludes that the enhanced economic productivity, stronger economic growth, and reduced reliance on social programs achieved through higher education directly benefit government, industry, and society. See https://www.okhighered.org/econ-dev/

American Clinical Laboratories Association

We developed an analysis and report detailing the growth and impacts of the modern genetic and genomic clinical laboratory diagnostics and testing industry and associated R&D enterprises.

ISMETT (Italy)

Working with UPMC Italy, we researched the economic and functional impacts of ISMETT, the Palermo-based organ transplantation and advanced specialty care hospital and research center, on the region of Sicily and nationwide.

Program and Policy Evaluation

Examples of Project Work Completed by Principals at TEConomy:

United States Department of Agriculture (USDA)

Engaged by the USDA’s National Institute of Food and Agriculture (NIFA), TEConomy conducted the first in-depth evaluation of the impacts of the nation’s “capacity funding” (also known as formula funding) that supports research at land-grant universities throughout the nation. The work identifies key areas of focus across capacity funded research and compares it to work conducted under NIFA competitive funding models. The analysis found that capacity funding represents a highly effective mechanism for allocating federal research funding to advance research, achieves high levels of leverage via additional state and local funding, and generates impacts directly focused on mission priorities for NIFA and the nation.

Utah Science Technology and Research (USTAR)

Launched in 2006, USTAR is the State of Utah’s signature investment in its innovation ecosystem with the long-term goal of expanding and diversifying the State’s economy and the number of high-wage jobs. USTAR provides competitive funding for technology commercialization to Utah companies and universities in technology areas aligned to the state’s target industries. TEConomy was selected as an independent, third party to measure USTAR’s private sector impacts over a five-year period (2016-2020)—i.e., to assess how companies that have received USTAR funding and assistance performed on key metrics of interest to the Governor, the Utah Legislature, and the USTAR Governing Authority. For this analysis, TEConomy designed and implemented an online survey of 300 USTAR client companies. TEConomy found that USTAR’s direct economic impact—measured by client company follow-on investment, sales of commercialized products, and new hires with higher-than-county-average salaries—all increased from CY2015 to CY2016. TEConomy is currently working with USTAR to measure CY2017 impacts.

North Carolina Biotechnology Center (NCBC)

We performed a comprehensive assessment of the statewide and regional economic and functional impacts generated of NCBC program over its first 25 years, with ongoing updates every two years. The 25- year assessment involved input/output analysis, identification of functional benefits and detailed customer and stakeholder survey research.

Supplemental Nutrition Assistance Program Education (SNAP-Ed) through the Land-Grant University System

TEConomy analyzed and evaluated the impacts of Land-Grant Universities’ implementation of evidence-based nutrition education and obesity prevention interventions for recipients of assistance through the Supplemental Nutrition Assistance Program (SNAP). SNAP, formerly known as the food stamp program, is the nation’s largest anti-hunger program and a cornerstone of our nation’s support for individuals and families with limited financial resources.

Family and Consumer Sciences

We examined the overall structure and content of Family and Consumer Sciences as an academic discipline and an applied research field, developing solutions to rural and urban challenges through knowledge dissemination and extension activities at land-grant universities.

Iowa State Center for Crops Utilization Research

We assessed progress against mission goals of the Iowa State University Center for Crops Utilization Research and developed strategic action recommendations for enhancing positive economic development outcomes through the Center’s programs.

Ohio Soil and Water Conservation Districts

We examined the current structure and functionality of Ohio’s statewide system of Soil & Water Conservation Districts and provided the State of Ohio with a strategic action plan to enhance and streamline the effectiveness of system operations.

Science Foundation Arizona (SFAz)

We surveyed grantees to prepare annual report cards for SFAz that closely examined the performance of grant programs and how the agency’s efforts contributed to advancing innovation and economic development in Arizona.

Maryland Technology Development Corporation (TEDCO)

We analyzed the economic and functional impacts of TEDCO’s research and commercialization programs, analyzed the strategic need for each of TEDCO’s core programs, and studied the role that TEDCO plays in commercializing technologies within the state.

Let us help you answer the tough questions. We have invested in the know-how and resources required for performing highly advanced analytics, and subscribe to leading information resources, databases and market research resources, giving us access to the latest data and metrics. Our expertise in research methods and access to specialized tools in statistical analysis, modeling and simulation, econometrics and bibliometrics assures conclusions that are rooted in robust and rigorous analytics.

Targeted Industry Cluster Analysis

A fundamental component of many of our strategic engagements involves developing state and/or regional targeted industry analysis and assessments. Utilizing detailed industry employment, output, productivity, venture capital, R&D, and other data sources combined with on-the-ground intelligence, the TEConomy team has developed proven approaches and methodology to assist clients in understanding their most viable opportunities for industry cluster and subcluster development now and into the future.

Examples of Project Work Completed by Principals at TEConomy:

CenterState Corporation for Economic Opportunity

In several engagements with CenterState CEO we have identified and assessed the position of Central New York’s industry clusters and provided recommendations on those clusters primed for enhanced regional economic development.

Advanced Analytics and Modeling

In addition to our strong capacity and capabilities in economic impact modeling, TEConomy Partners brings a unique suite of analytics capabilities to fully understand the innovation, economic, and policy landscape across any technology or industry area. These analytic capabilities combine proprietary data sets and tools with real world and on the ground understanding of how to put analytic insights to use in providing actionable intelligence for clients to understand and address complex issues.

Scientometrics

TEConomy principals have been at the forefront of applying scientometric and bibliometric analyses to the understanding of state, regional, and institutional research and innovation and the connections and importance to innovation- based economic development. Our advanced analysis techniques can examine the strength, quality, and downstream impact of research and innovation activities represented by publications, patenting, R&D spending, and more to provide a complete narrative of the innovative technology and research strengths driving a region or industry of interest.

Thematic Identification and Clustering

Using various text data mining tools and techniques TEConomy can examine a wide variety of text data sources such as patent and research publication abstracts, to assess the underlying themes and areas of focus. This identification of clusters and themes within document collections are used to help identify core innovation competencies, technology platforms for future development, and their ties to existing and emerging industry clusters.

Citation Landscaping and Network Analysis

Understanding how ongoing research and innovation within a region is interconnected within a broader context, and its relative concentration is critical to identifying a region’s position across a technology and innovation landscape. Using network analysis tools, TEConomy can identify key areas of activity that form the “nodes” in the network defined by patterns of citations or other connections between technology areas or industries.

Econometric Forecasting and Predictive Modeling

TEConomy has extensive background in advanced econometric modeling techniques used to drive forecasts of economic growth and trends in research activity. Using the latest regression, maximum likelihood, decision theory, and other predictive models customized to address key client questions, TEConomy can develop high quality forecasts of industry performance, research activity, predicted policy or spending decisions, or other trends or strategic decisionmaking to inform and support critical aspects of economic development implementation.

Survey Design and Attribute Analysis

Using web-based and form-based designs, TEConomy has developed survey and data collection instruments to meet client needs for large scale data collection. Once collected, TEConomy can deploy a wide variety of advanced analysis techniques to gain deep insights from survey respondents, including multi-attribute modeling techniques and revealed preference analysis such as conjoint analysis, to provide quantifiable insights into stakeholder perspectives on innovation and policy.

Complex Systems Simulation

Local and regional economies, as well as broader innovation ecosystems, involve decisions and investments that interact with one another in increasingly complex ways. TEConomy has expertise in developing applied complex systems simulations of industry and innovation environments that capture the complexity and uncertainty inherent in large-scale environments that have a significant number of decision makers and stakeholders. The behavior of individual firms, research institutions, or other participants in technology-based economies can be used to drive simulated outcomes that in turn are used to analyze complex near or long term impacts of research investment, economic development initiatives, and other policy decisions.